Energy Fund for SMEs

by | 18 May 2023 | All News, News around the Web

Get finance to keep your business going during load shedding.

Our Energy Fund for SMEs provides finance ranging from R250 000 to R2 million to business owners with a viable business who want to buy solar systems, battery systems, generators, wind generators, inverter systems and related products.

Benefits of the Energy Fund for SMEs
We have introduced the Energy Fund for SMEs to assist business owners to mitigate the impact of load shedding.

  • South Africa loses R500 million a day to loadshedding and according to the South African Reserve Bank, thisnumber can increase to R900 million per day when the country faces Stage 6 power cuts.
  • SMEs play a vital role in the South African economy and these losses impact them directly.
  • They are also severely affected by the loss in electricity supply and many do not have the resources to invest in alternative sources of electricity supply.
  • SMEs need to keep their businesses running by prioritising the sourcing of alternative and sustainable supply of energy.
    The Business Partners Ltd Energy Fund for SMEs has been introduced to:
    ॰ Allow SMEs to source alternative energy, in order to keep their businesses running.
    ॰ Help SMEs mitigate the impact of loadshedding.
    ॰ Assist SMEs with reaching their sustainability objectives.

Minimum and maximum loan amount

  • We provide finance from R250 000 to a maximum of R2 000 000.

Our financing criteria
The applicant must be a company or a close corporation – trusts cannot be funded. Should you not meet the criteria below, we invite you to explore alternative Business Partners Ltd financing options.

  • The applying company’s shareholding/ membership must be held by a natural person.
  • The business’s turnover must be less than R20 million.
  • The business must have a trading history of not less than 2 years. Start-up businesses are not financed using this financing product.
  • The business must have a profitable track record.
  • The business must have clear credit record.
  • The business must be able to afford instalments based on cash flow history.

Repayment terms

  • We have optimised the accessibility and affordability of the Energy Fund for SMEs loans by offering no repayment obligations for the first six months.
  • The loan is offered at a highly competitive, risk-adjusted interest rate with a repayment term of up to five years.

Required documents application
We require the business owner to submit some information in order for us to assess their application for the Business Partners Ltd Energy Fund for SMEs. Below is the list of information we require:

  • Quotes for equipment from an accredited installer.
  • Copies of Identity documents of all related parties.
  • Company/ Close Corporation documents.
  • Copy of Registration Certificate/ Founding Statement.
  • Copy of memorandum of incorporation.
  • Copy of the company’s share register.
  • Signed Annual Financial Statements not older than 12 months from date of application.
  • Signed Management Accounts not older than 3 months from date of application.
  • 12 Months’ bank statements of the business for the period ending no earlier than 3 months before date of application.
  • A rental statement (premises), not older than 1 month.
  • The statements for any other credit agreements such as ISA, Bond Facilities, Trade Finance; and which statements must not be older than 3 months from date of application.
  • Statements of assets and liabilities for the main business owner/s.
  • Confirmation of bank account details issued by the relevant bank.

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